Northland Capmk Weighs in on Cardio Diagnostics Holdings, Inc.’s Q2 2023 Earnings (NASDAQ:CDIO)

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO – Get Rating) – Investment analysts at Northland Capmk issued their Q2 2023 earnings estimates for Cardio Diagnostics in a research note issued on Monday, May 22nd. Northland Capmk analyst C. Byrnes forecasts that the company will post earnings per share of ($0.21) for the quarter. The consensus estimate for Cardio Diagnostics’ current full-year earnings is ($0.75) per share. Northland Capmk also issued estimates for Cardio Diagnostics’ Q3 2023 earnings at ($0.21) EPS, Q4 2023 earnings at ($0.21) EPS, FY2023 earnings at ($0.75) EPS, FY2024 earnings at ($0.75) EPS, FY2025 earnings at ($0.70) EPS and FY2026 earnings at ($0.55) EPS.

Separately, Northland Securities assumed coverage on shares of Cardio Diagnostics in a report on Monday. They issued an “outperform” rating for the company.

Cardio Diagnostics Stock Up 19.7 %

Shares of Cardio Diagnostics stock opened at $1.58 on Wednesday. Cardio Diagnostics has a 12-month low of $0.80 and a 12-month high of $10.25. The company has a 50-day moving average of $2.67 and a two-hundred day moving average of $2.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CDIO. Susquehanna International Group LLP purchased a new position in shares of Cardio Diagnostics during the 4th quarter worth approximately $26,000. Bank of America Corp DE purchased a new position in shares of Cardio Diagnostics during the 1st quarter worth approximately $59,000. State Street Corp purchased a new position in shares of Cardio Diagnostics during the 1st quarter worth approximately $163,000. Finally, Geode Capital Management LLC purchased a new position in shares of Cardio Diagnostics during the 1st quarter worth approximately $290,000. 77.29% of the stock is owned by hedge funds and other institutional investors.

About Cardio Diagnostics

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Cardio Diagnostics Holdings, Inc, a biotechnology company, develops and commercializes epigenetics-based clinical tests for cardiovascular disease. It offers Epi+Gen, a three-year symptomatic coronary heart disease (CHD) risk assessment test targeting CHD events, including heart attacks. The company was founded in 2017 and is headquartered in Chicago, Illinois.